openPR Logo
Press release

Automotive LiDAR Market 2019 Application, Revenue and Forecast to 2025

07-12-2019 08:37 PM CET | Logistics & Transport

Press release from: Global Market Insights Inc.

North America is dominating the automotive LiDAR market and accounts for over 70% of the total market. This growth can be attributed to the presence of a large number of automakers and tech giants. They have adopted various strategic initiatives to advance the automotive LIDAR technology. For instance, in 2017, LeddarTech, a provider of autonomous LiDAR solutions, partnered with Delphi, a developer of autonomous driving technology, to develop cost-effective automotive LiDAR solutions.

The mechanical LiDAR holds the majority share in the automotive LiDAR market. This growth is attributed to the widespread adoption of the technology in various advanced driver assistance system applications. The solid-state LiDAR technology has gained a lot of popularity due to its inexpensive nature and higher performance with regards to the traditional LiDAR sensors. The automakers are currently working on solid-state technology, which is expected to be commercialized by 2020.

Request for a sample of this research report @ www.gminsights.com/request-sample/detail/2911

Automotive LiDAR Market is anticipated to exceed three million units with a market size of over USD 3 billion by 2024. The automotive LiDAR market is propelled by increasing R&D activities for the development of autonomous vehicles. Technology giants and automakers, such as Google and GM, are working toward developing their own autonomous solutions for self-driving vehicles. Supportive government initiative and policies have further fostered the growth of the market.

There has been an abrupt growth in the demand for LiDAR sensors in the automotive industry. The customers have to wait for extended durations due to the presence of a limited number of suppliers. Therefore, the existing suppliers are building production facilities to meet the growing demand for automotive LiDAR sensors. In addition, the increasing supply-demand gap has attracted new players to the market. Conventional automotive suppliers are forming partnerships or making strategic investments in the existing LiDAR suppliers to access their technology.

The semi-autonomous vehicle market accounted for over 40% of the total revenue in the automotive LiDAR market in 2017. The market is driven by the increasing number of automotive safety regulations across the globe. For instance, the National Highway Traffic Safety Administration (NHTSA) of the U.S. has mandated all the vehicles to be equipped with advanced driver assistance systems by 2020. This has led the automakers to incorporate various advanced driver assistance systems in their automobile. The autonomous vehicle market is anticipated to grow at a CAGR of over 35% over the forecast timeline. The LIDAR sensors allow a self-driving vehicle to generate a 3D model of its surroundings using light pulses to measure the precise distance of the objects within its vicinity.

Make an inquiry for buying this report @ www.gminsights.com/inquiry-before-buying/2911

Europe's automotive LIDAR market will grow at a CAGR of over 60% during the projected timeline. The autonomous industry in the region will grow at a very high pace due to its well-maintained transportation infrastructure and supportive government policies. For instance, in 2015, the Government of the Netherlands established a regulatory framework, which allowed the testing of autonomous vehicles on public roads. In addition, there has been a growth in the number of public-private partnerships, which is further accelerating the growth of the autonomous industry in the country.

The companies in the market are adopting inorganic growth strategies and conducting R&D initiatives to increase their market share.The company is currently developing solid-state LiDAR solutions to eliminate the mechanical rotation of the existing LiDAR technology while improving the resolution, size, controllability, and system stability.

The companies operating in the automotive LiDAR market are LeddarTech, Continental, Luminar Technologies, Aptiv, Uber, Blackmore Sensors and Analytics, Trilumia, ZF, Magna, Innoviz Technologies, Oryx Vision, BMW, Nissan, Mercedes-Benz, Volvo, RoboSense, Audi, Velodyne, and Quanergy.

Browse Full Reports: www.gminsights.com/industry-analysis/automotive-lidar-market

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Automotive LiDAR Market 2019 Application, Revenue and Forecast to 2025 here

News-ID: 1803253 • Views: 330

More Releases from Global Market Insights Inc.

U.S. Baghouse Filters Market Analysis & Opportunity Assessment over 2019 – 202 …
An analysis of U.S. Baghouse Filters market has been provided in the latest report launched by Global Market Insights that primarily focuses on the market trends, demand spectrum, and future prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders. Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/1672
Tower Crane Market 2019 – 2025 | Development Status, Growth Analysis by Region …
An analysis of Tower Crane market has been provided in the latest report launched by Global Market Insights that primarily focuses on the market trends, demand spectrum, and future prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders. North America Tower Crane Market is developing at a rapid
Superabsorbent Polymers (SAP) Market Trend Analysis & Regional Outlook over 2019 …
An analysis of Superabsorbent Polymer market has been provided in the latest report launched by Global Market Insights that primarily focuses on the market trends, demand spectrum, and future prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders. Rising reconstruction industry in North America will drive superabsorbent polymer
HVAC Air Quality Monitoring Market Study by Current Trends & Future Prospects to …
An analysis of HVAC Air Quality Monitoring market has been provided in the latest report launched by Global Market Insights that primarily focuses on the market trends, demand spectrum, and future prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders. Emerging economies from Latin America and Asia-pacific contribute

All 5399 Releases


More Releases for LiDAR

A Comprehensive Study exploring LiDAR Sensor Market
An extensive analysis of the LiDAR Sensor Market strategy of the leading companies in the precision of import/export consumption, supply and demand figures, cost, price, revenue and gross margins. The report starts by an introduction about the company profiling and a comprehensive review about the strategy concept and the tools that can be used to assess and analyze strategy. It also analyzes the company’s strategy in the light of Porter’s